Analysts Set SBA Communications Co. (NASDAQ:SBAC) Target Price at $257.23

Shares of SBA Communications Co. (NASDAQ:SBAC) have been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $257.23.

SBAC has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price target on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. TD Cowen raised their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets increased their target price on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, KeyCorp boosted their price target on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th.

SBA Communications Trading Up 1.2 %

NASDAQ:SBAC opened at $221.09 on Wednesday. The stock has a market capitalization of $23.77 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 0.74 and a beta of 0.68. SBA Communications has a 12 month low of $183.64 and a 12 month high of $258.76. The firm’s 50 day moving average is $236.70 and its 200 day moving average is $216.02.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.34 earnings per share. Research analysts predict that SBA Communications will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Thursday, November 14th. SBA Communications’s dividend payout ratio is presently 61.83%.

Insider Activity

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the transaction, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This trade represents a 23.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Several large investors have recently made changes to their positions in SBAC. Ashton Thomas Securities LLC purchased a new position in SBA Communications in the 3rd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new position in shares of SBA Communications during the second quarter worth $32,000. Capital Performance Advisors LLP purchased a new position in SBA Communications during the third quarter valued at $35,000. Family Firm Inc. bought a new stake in SBA Communications in the 2nd quarter valued at $36,000. Finally, Global X Japan Co. Ltd. bought a new stake in SBA Communications in the 2nd quarter valued at $49,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.